Galaxy Macau Phase III opens

The new development includes the Galaxy International Convention Center and the Galaxy Arena.

Macau.- Galaxy Entertainment Group (GEG) has opened Phase III of Galaxy Macau. This development features the 40,000-square-metre Galaxy International Convention Center (GICC) and the Galaxy Arena, currently the largest indoor arena in Macau with a capacity for 16,000 spectators. It also introduces two new hotels, Andaz Macau and Raffles at Galaxy, together providing over 1,100 rooms. 

Phase IV, expected to open in 2026, will include six high-end hotels, a 4,000-seat theatre, F&B options, retail spaces, non-gaming attractions and a water resort deck. The company awarded a HK$2.24bn (US$285.4m) subcontract to Far East Facade (Macau), a wholly-owned subsidiary of China State Construction Development Holdings to build the façade.

GEG posted net revenue of HK$9.7bn (US$1.24bn) for the third quarter. The figure was up by 11.4 per cent sequentially and 374.4 per cent from the prior-year period. EBITDA was HK$$2.8bn, a rise of 576 per cent when compared to last year and 12 per cent in quarter-on-quarter terms. Gross gaming revenue (GGR) was HK$8.75bn (US$1.12m), up 853 per cent year-on-year and 14.2 quarter-on-quarter. 

Galaxy to host 50 concerts and 250 MICE events in 2024

In November, the company’s chief operating officer Kevin Kelley said the operator will host 50 major concerts and 250 MICE (meetings, incentives, conferences, and exhibitions) events in 2024.

Speaking at the MGS Entertainment Show & Summit, Kelley said: “The Macau SAR Government has the right idea with this objective to evolve Macau from a heavily gaming-centric tourism model to becoming a highly diversified world centre for entertainment and tourism. As we move forward into the future, we have to embrace the reality that the success of our past does not necessarily guarantee the success of our future.”